Visa and Allianz are bringing a new mobile payment app for consumers with Allianz Prime that enables customers to make payments with their mobile device online and in stores.
The app features built-in security technology pioneered by Visa that replaces sensitive payment card account information with a unique digital identifier (a “token”) that can be used to process payments without exposing actual account details.
Allianz Prime users also benefit from an attractive loyalty program, a smart spend tracker to simplify money management as well as Allianz Partners’ Digital Payments Protection.
The mobile payment app will be tested in Italy, involving a sample of Allianz customers. Allianz Prime users will be able to make secure mobile transactions at all contactless-enabled terminals worldwide.
Transactions are processed and the loyalty program is integrated by Allianz’s digital financial technology partner Wirecard.
Mike Lemberger, Senior Vice President, product solutions Europe at Visa, says Visa is delighted to join forces with Allianz Partners to offer their customers the mobile payment app solution which combines payments, spend tracking and enhanced insurance services in an innovative way.
“With the launch of their first mobile payment app Allianz has not only created a new way to engage and reward customers but is also offering them a new, secure way to make payments worldwide – online and in stores – while also helping consumers keep track of their spending.”
“With the support of our digital partners Visa and Wirecard, the Allianz Partners Innovation Team has created Allianz Prime. A solution that provides our customers with freedom and security via safe and insured mobile payments off- and online anytime, anywhere. Moreover, it offers a global platform to our Allianz Operating Entities to engage with their customers on a daily basis, enriching traditional insurance with technology and services,” states Matthias Wuensche, Head of Market Management and Innovation, at Allianz Partners.
How Allianz Prime works
To sign-up, once customers download the Allianz Prime app and register for the service, a virtual Visa account will be issued instantly and can be topped-up from any existing bank account or via the customer’s credit card. To enable contactless mobile payments, users add the Visa card with one click into their mobile wallet.
With information from Allianz
